Staircasing is a process where you can buy more shares in your property. The greater the share purchased; the less rent is payable to Plymouth Community Homes.
You can either purchase additional shares in your home, but remain a shared ownership leaseholder or you can purchase all remaining shares in the property and own 100% of the property.
When you staircase to 100% you will no longer be a shared owner so you will not have any rent to pay to Plymouth Community Homes, although you may still be liable for service charges.
If your property is a house, at the final staircasing stage you will be purchasing the freehold. If your property is a flat, at the final staircasing stage you will remain a leaseholder because the freehold is owned by Plymouth Community Homes.
*There may be restrictions at certain developments that will only allow you to staircase up to a maximum of 80% of the property value. This will be clear from the marketing on these developments before you buy a home.
